Riding is an activity that gives many people pleasure. Especially girls and young women can indulge in this hobby with a lot of passion. If you want to ride regularly, you will quickly think about buying your own horse.
But also a participation in a horse would be possible. However, both are associated with quite high costs. Because the purchase of a horse can quickly cost tens of thousands of euros. Especially if it is a well-trained horse or even a race horse. In addition, there are the costs of submission, food, insurance, care and medical care. With their own savings, this is often rare to regulate. Especially the purchase of a horse then demands a loan for a horse. And you can easily record this with good conditions.
The installment loan can fix it
Since there is no special loan for a horse or the purchase of another animal, the financing must run on a installment loan. So far, this is not a problem because you can apply for this loan at all banks on different terms. So that the application can be made, the costs around the horse should first be calculated. An additional financing is usually quite difficult, so it is advisable to choose the right loan amount right from the beginning. If this could be determined, it is now about the own conditions for borrowing.
Only with a good income and a good private credit can the loan be taken without help. If this is not the case, it must be considered whether a guarantor or a co-applicant can improve the conditions for taking a loan for a horse. Only with good conditions, the loan will be forgiven. Especially with high loan amounts, the bank will look very closely and weigh who it works with and who does not.
The horse is no security
A loan is always about collateral. The bank only forgives this if sufficient collateral is available. So also with a loan for a horse. However, the horse itself can only be considered as safety in very rare cases. It could get sick or injured and therefore has no fixed resale value. Only with very noble breed horses or with horses, which bring very high price money with tournaments, the horse can be regarded as security. However, if the horse is just a hobby then it will be difficult to convince the bank of its material value. In such a case, it must always be ensured that sufficient collateral from other sources is available.
Do not rush
Even if equestrian sport allows a very pleasant leisure time, the purchase of a horse should never be rushed. A horse is always bought quickly. But behind the animal, a lot of work is waiting for the owner, who not only takes time, but also additional capital. A horse should therefore only be bought if you have enough money every month for the care and support. In addition, sufficient time and space must be available so that the animal can be moved.
If it is not possible to fulfill these requirements, one should better resort to a “hired horse”, which one can borrow for a ride every now and then and which otherwise causes only little cost. And if there is enough time and money, you can still invest in your own horse with the help of a loan for a horse.